Exact inference from finite market data
Theoretical Economics
2021-07-16 v1
Abstract
We develop conditions under which individual choices and Walrasian equilibrium prices and allocations can be exactly inferred from finite market data. First, we consider market data that consist of individual demands as prices and incomes change. Second, we show that finitely many observations of individual endowments and associated Walrasian equilibrium prices, and only prices, suffice to identify individual demands and, as a consequence, equilibrium comparative statics.
Cite
@article{arxiv.2107.07294,
title = {Exact inference from finite market data},
author = {Felix Kübler and Raghav Malhotra and Herakles Polemarchakis},
journal= {arXiv preprint arXiv:2107.07294},
year = {2021}
}